David Haggith

David Haggith started writing about the economy after he predicted The Great Recession half a year before it hit and was puzzled as to why no economists or stocks analysts saw it coming. In the months after the crisis broke out, he started to write humorous editorials in a series titled “Downtime,“ which chided the U.S. government and bankers who should have seen the economic collapse coming but whose cronyism, greed and ineptitude caused them to run the world into a ditch. Those articles were published in The Hudson Valley Business JournalThe Valley City Times-Record (North Dakota), and The Daily Herald in Tennessee. Haggith is dedicated to regularly criticizing the daily news — not just the content but the uncritical, unthinking nature of almost all of the reporting. He now writes his own blog, The Great Recession Blog, to break down the news as an equal-opportunity critic toward both Republicans and Democrats / Conservatives and Liberals … since neither kind of politician has done anything worthwhile to plot a better economic course. His articles are regularly carried by several economic websites.

Articles by David Haggith

I have struggled to understand George Soros because he is a character riddled with contradiction. His push to break down borders by increasing immigration all over the world is undermining his desire to establish a...
I begin my 2017 stock market predictions with a recap of last year’s predictions. In an article back in 2015 titled “The Epocalypse: What Will D-Day Look Like?” I predicted the Fed would raise rates on December 16th, 2015, and the US stock...
Europeans must have been delighted to discover that one thing is working as well as it has since the start of the Great Recession. Behemoth banks that are failing are still able to pay their Christmas bonuses to their top executives...
Since Trump’s election, the US stock market has climbed unstoppably along a remarkably steep path to round off at a teetering height. Is this the irrational exuberance that typically marks the...
In May, I wrote an article titled " The OPEC Epoch Is Over - Where Are Oil Prices Headed Now?," which pronounced OPEC officially dead and predicted oil prices would plunge again. So far, I've been wrong about a second perilous plunge in...
The financial end of the world in economic apocalypse is here. A funny thing happened on the road to recovery: Trump’s chief strategist admitted his view of the Trumpian future looks like the Great Depression. Even the world’s...
Election week is only about a week away. No matter who wins, rage will break out across the US landscape because, for the time being, the flames are kept minimally under a lid by hope on each side that their candidate will win....
Oil yesterday plunged quickly below $40 per barrel, taking oil prices down more than 20% from their high a little over a month ago. That officially defines a bear market in oil. As of today, oil has also moved below its 50-day, 100-day and...
The crude oil price rally has been completely destroyed, though I’ll admit I was wrong when I predicted crude oil prices would plummet in March or April as the perfect storm developed against oil prices. Instead, they rallied. In spite of...
Brexit — the second major landslide in the Year of the Epocalypse — has bankers all over the world scrambling to pick up and prop up their crumbled facades this week. This is one more jolt in the...

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Domestic gold prices tumble on reduced demand